Solar Market Forges Ahead in Q3 as Residential Installations Recover and Utility-Scale Pipeline Grows
WASHINGTON, D.C. and HOUSTON, TX — U.S. solar companies installed 3.8 gigawatts (GW) of new solar photovoltaic (PV) capacity in Q3 2020, a 9% increase from Q2 installations as the industry experienced a recovery from the worst impacts of the COVID-19 pandemic.
Note: The Q3 2020 U.S. Solar Market Insight covers installation volumes in Q2 2020 and forward-looking trends. The second quarter of 2020 was the first full quarter in which the U.S. solar industry was exposed to the risks associated with the coronavirus pandemic. The forecasts in this report account for the coronavirus but are subject to uncertainty based on the unprecedented health, social and economic conditions in the United States.
Note: While there is reference in the below release to the unknown impacts of COVID-19 on projections, we wanted to acknowledge the toll the pandemic is having, and emphasize that projections may need to be revised as the wider effects of the crisis across our interconnected society become clearer. WASHINGTON, D.C. and HOUSTON, TX – Solar accounted for 40% of all new electric generating capacity in the U.S. in 2019, its highest share ever and more than any other source of electricity, with 13.3 gigawatts (GW) installed.
The latest quarterly data on solar growth shows just how resilient this industry is. Even with misguided tariffs that make U.S. solar systems among the most expensive in the world, fifteen states (and the country as a whole) posted their best quarter ever for residential solar in Q3 2019. Just imagine how many states could have had a record-breaking quarter and how much closer we’d be to our next million solar installations if these tariffs weren’t in place.
The U.S. residential solar market reached record highs in the third quarter of 2019 with 712 megawatts of solar installed.
Utility solar project procurement soared in Q2 2018 as component prices declined and home solar installations steadied after a 15 percent contraction last year, according to the latest U.S. Solar Market Insight Report from Wood Mackenzie Power & Renewables (previously known as GTM Research) and the Solar Energy Industries Association (SEIA).
At the end of 2015, there was just north of 25 gigawatts (GW) of solar PV installed in the United States. Now, after back-to-back years of double-digit gigawatt growth (15 GW in 2016 and 10.6 GW in 2017), the solar industry has more than doubled its total installed capacity to 53.3 GW through the end of 2017.
BOSTON, Mass. and WASHINGTON D.C. – In 2017, the U.S. solar market expanded, adding double-digit gigawatt solar photovoltaic (PV) additions for the second year in a row. According to the newly released U.S. Solar Market Insight Report 2017 Year-in-Review from GTM Research and the Solar Energy Industries Association (SEIA), the solar industry installed 10.6 gigawatts (GW) of new PV capacity in 2017, led by strong growth in the corporate and community solar segments.
BOSTON Mass. and WASHINGTON, D.C. - The U.S. installed more than 2 gigawatts (GW) of solar photovoltaics (PV) in the third quarter of 2017, despite experiencing higher prices across all market segments and major policy uncertainty. In their latest U.S. Solar Market Insight report, GTM Research and the Solar Energy Industries Association (SEIA) said prices rose due to a tight global supply of modules and uncertainty around the Section 201 trade case now being weighed at the White House.